🩷Major Trend: Sideways / Weak Volatility After Decline

Fallen from high levels, now grinding at the bottom, no reversal yet, nor continued sharp drop.

🩷Why is it falling?

1. The entire crypto market is weak
Bitcoin and tech stocks in the US stock market are also falling, everyone is afraid of risk and selling high-risk assets.

2. Institutions are withdrawing funds
Recent net outflows from the US ETH ETF (institutions are redeeming and selling), not net inflows.

3. Futures market outlook is pessimistic
Futures premium is very low, indicating no one dares to leverage long, sentiment is bearish.

4. Macro hedging
Geopolitical tensions, interest rate expectations, etc., funds are buying gold and dollar-denominated bonds, not crypto.

🩷Why hasn't it continued to crash?

- 147,000 ETH burned in March (deflationary, decreasing with use)

- Active addresses and transaction counts hit all-time highs (the network is truly being used)

- Leading position in stablecoins and RWA (Real World Assets on-chain) remains unchanged

🩷Key support levels not broken
$2,000–$1,950 is a psychological + technical strong support
Many long-term investors are quietly accumulating in this range

🩷All moving averages trending downward → Medium-term bearish trend

🩷Short-term slight rebound, but volume is very small → Not a reversal, just a pause after a big drop

🩷Unable to break above $2,100 → Still weak, prone to further decline

🩷Breakout with volume above $2,220 → Indicates short-term strength

🩷What’s next?

🩷Short-term (1–3 days)
Weak bottom-side consolidation, leaning bearish, but with strong support

🩷Don’t chase highs, don’t bottom fish too early

🩷Want to go long: wait until it stabilizes above $2,100

🩷Want to go short: consider after a rebound to $2,100–$2,180